The transaction below happened at OQ Energy Company: 1 . On the 1 st of April, the
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Question:
The transaction below happened at OQ Energy Company:
On the st of April, the owner of the company invested cash OMR building OMR and machine OMR in the company.
nd of April, the company bought land for on credit.
On the th of April, the company billed the customers for the services provided.
On the th of April, the board of directors declared dividends OMR for the ordinary shareholders.
On the th of April, the owner of the company withdrew for personal use.
th of April, the company converted Note payable to ordinary shares.
On the th of April, the company paid electricity OMR and rent OMR
th of April, the company issued ordinary shares for OMR
th of April, the company paid for the land bought on the nd of April.
On the th of April, the company paid for one year insurance starting from the st of April.
th of April, the company received for services that should be provided next month.
th of April, the company received maintenance services for their equipment for but didnt pay the provider.
On the nd of April, the company sold a used delivery truck for
On the th of April, the company sold old office furniture and billed the purchaser for
On the th of August, the owner of the company returned the amount withdrew on the th of April.
st of April, paid dividends of OMR for the ordinary shareholders.
Q Prepare the journal entries in the general ledger of the company.
Q Post the journal entries to each account ledger.
Q Prepare the Trial Balance report for the above.
Q Consider the following transaction that happened next month and prepare the adjusting entries.
On the st of May, the company received the amount billed on the th of April.
th of May, the company used one month of the insurance services paid for on the th of April.
th of May, the company provided services for from the services paid on the th of the April.
th of May, the company paid for the maintenance services received on the th of April.
Q Prepare the adjusting Trial Balance according to the above adjustment.
Q Prepare the Income Statement of the company.
Q Prepare the statement of Retained Earnings
Q Prepare the statement of Financial Position
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